Here are 4 Rules You Should Be Aware of When Buying an Engagement Ring in 2022
If you are looking to get engaged for a long time, you’re possibly wondering how much your engagement ring would cost at the very least. Buying a ring & dealing with the subsequent cost associated with it can be a daunting task as you are confused about how much you can spend on an engagement ring. There are a lot of different regulations and expectations about the cost that could make things more stressful and confusing.
Let us look at some rules that you can follow when buying an engagement ring:
- Three Month Rule:
Many expert research studies have found that the ring should cost the buyer just three months of his salary and should not exceed that. As a general rule, it is recommended that people who are in heavy debt or uncertain about their job stability should seriously consider setting a limit on how much they going to spend on the ring.
- Take a Salary of One Month:
It is recommended that one should spend only a month's income on an engagement ring if you have a lot of debt. One should never go overboard and spend a fortune on an engagement ring. Jus spending a month's salary gives you and your loved ones the financial security and peace of mind for the days ahead.
- Disagreements Should Be Settled Amicably Ring:
One must be willing to compromise by spending two months’ pay on the rock if they find that spending three months' salary on an engagement ring is way too much for them and one month is too little for them. If you’re seeking to spend a modest fortune but don’t want to risk ruining your finances, this is a smart alternative. It is recommended that one should always be ready to be flexible on how much one can spend on a ring.
- Spend as Much as a Ring Would be Cost:
According to a study, it was found that couples spend an average +AED14K /$4,000 or more on an engagement ring. So, one should plan their budget roughly around this figure when buying an engagement ring.
